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Net sales of UCITS positive in October 2013

Net sales of UCITS returned to positive territory in October with net inflows of EUR21bn, compared to net outflows of EUR15bn in September, according to the European Fund and Asset Management Association (EFAMA).

This turnaround in net sales can be attributed to a reduction in net outflows from money market funds and increased net inflows to long-term UCITS.
 
Long-term UCITS (UCITS excluding money market funds) registered a rise in net inflows to EUR27bn, up from EUR9bn in September. 
 
Equity funds attracted net inflows of EUR17bn, up from EUR14bn in September
 
Bond funds registered net outflows of EUR1bn, compared to net outflows of EUR9bn a month earlier
 
Net sales of balanced funds amounted to EUR8bn, compared to EUR5bn in September
 
Money market funds registered reduced net outflows in October of EUR5bn, down from EUR24bn in September.
 
Total non-UCITS recorded net sales of EUR19bn in October, up from EUR17bn in September.  This increase in net sales can be attributed to special funds (funds reserved to institutional investors) which registered net inflows of EUR18bn, compared to EUR16bn in September.
 
Total net assets of UCITS stood at EUR6,860bn at end October 2013, representing a 1.6 per cent increase during the month. 
 
Total net assets of non-UCITS increased in October by 1.7 per cent to stand at EUR2,776bn at month end
 
Total net assets of the European investment fund industry at end October amounted to EUR9,636bn.
 
Bernard Delbecque, director of economics and research at EFAMA, says: “Signs of a gradual pick-up in economic activity in Europe and expectations of continued support from central banks boosted investor demand for long-term funds in October.”

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